These were the worst performing ASX 200 shares last week

AMP Ltd (ASX:AMP) and Challenger Ltd (ASX:CGF) shares were among the best performers on the ASX 200 last week…

| More on:
falling asx share price represented by business man giving thumbs down gesture

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

The S&P/ASX 200 Index (ASX: XJO) ran out of steam last week and tumbled lower. The benchmark index dropped 0.6% to end at 6,806.7 points.

While a good number of shares dropped with the market, a few recorded particularly severe declines. Here's why these were the worst performing ASX 200 shares last week:

CIMIC Group Ltd (ASX: CIM)

The CIMIC share price was the worst performer on the ASX 200 last week with a 20.7% decline. The contractor's shares crashed lower following the release of its full year results for FY 2020. While CIMIC reported a jump in profits, this growth was driven purely by the sale of a 50% stake in the Thiess business. Excluding this sale, CIMIC's underlying profit fell 25% year on year. Another cause for concern was the company's weak cash flows.

AMP Ltd (ASX: AMP)

The AMP share price wasn't far behind with a disappointing 16.2% decline over the five days. Investors were selling the financial services company's shares following the release of its full year results.  For the 12 months ended 31 December, AMP reported an underlying net profit after tax of $295 million. This was down a disappointing 33% on the prior corresponding period. Management advised that the result reflects the impacts of COVID-19 on its clients, its business, and the broader economy and financial markets.

Challenger Ltd (ASX: CGF

The Challenger share price was out of form last week and dropped 12.9%. The catalyst for this was the release of the annuities company's half year results. For the first half of FY 2021, Challenger reported a 12% increase in annuity sales to $2.2 billion and a 10% lift in total life sales to $3.4 billion. However, despite the sales growth, normalised net profit after tax was down 10% to $137 million. According to CommSec, the market was expecting a net profit after tax of $182 million.

Bravura Solutions Ltd (ASX: BVS)

The Bravura share price was a poor performer and fell 11.9% over the five days. This was despite there being no news out of the financial technology company. Possibly weighing on its shares was a note out of Goldman Sachs. Although the broker has retained its buy rating on its shares, it has reduced its price target by 6.7% to $4.20. The Bravura share price ended the week at $2.82.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia has recommended Bravura Solutions Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why ANZ, Clarity, IGO, and Pilbara Minerals shares are dropping today

These shares are ending the week in the red. But why?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Aurelia Metals, Centuria Office, Meeka Metals, and Resolute shares are tumbling today

These shares are having a tough time on Thursday. Let's find out why.

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Block, Catalyst Metals, Coronado Global, and Pilbara Minerals shares are falling today

These shares are having a tough time on hump day. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Betr, Regis Resources, St Barbara, and Woodside shares are falling today

These shares are taking a tumble on Tuesday. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why 4DS Memory, ASX, Betr, and Northern Star shares are tumbling today

These shares are starting the week in the red. But why?

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Accent, Cettire, Ioneer, and Pro Medicus shares are dropping today

These shares are ending the week in the red. What's going on?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Betmakers, Cettire, Johns Lyng, and Vulcan shares are falling today

These shares are having a tough session on Thursday. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Austal, Beach Energy, Perseus, and Platinum shares are falling today

These shares are having a tough time on hump day. But why?

Read more »